Quest Partners LLC Raises Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Quest Partners LLC raised its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1,093,900.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,880 shares of the bank’s stock after purchasing an additional 21,878 shares during the quarter. Quest Partners LLC’s holdings in Huntington Bancshares were worth $322,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of HBAN. Boston Partners increased its stake in Huntington Bancshares by 20.4% during the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after purchasing an additional 9,533,511 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Huntington Bancshares by 13.2% in the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock worth $298,682,000 after acquiring an additional 2,363,988 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Huntington Bancshares by 194.8% in the second quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank’s stock worth $42,226,000 after acquiring an additional 2,116,839 shares during the period. SG Americas Securities LLC grew its position in Huntington Bancshares by 531.0% during the second quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock valued at $15,166,000 after buying an additional 968,331 shares during the period. Finally, Interval Partners LP bought a new stake in Huntington Bancshares during the second quarter valued at approximately $10,289,000. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Price Performance

HBAN stock opened at $18.20 on Tuesday. Huntington Bancshares Incorporated has a one year low of $10.73 and a one year high of $18.44. The company’s fifty day moving average price is $15.79 and its 200-day moving average price is $14.50. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market capitalization of $26.44 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 3.57 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same quarter in the prior year, the firm earned $0.36 earnings per share. On average, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 59.62%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the transaction, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the transaction, the chief financial officer now owns 259,943 shares in the company, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,699 shares of company stock valued at $757,356 over the last 90 days. 0.92% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HBAN shares. DA Davidson boosted their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research report on Monday, October 21st. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Royal Bank of Canada restated an “outperform” rating and set a $17.00 target price on shares of Huntington Bancshares in a research report on Friday, October 18th. Morgan Stanley boosted their target price on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.26.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.